Dow Falls Over 100 Points; US Existing Home Sales Decline In July
Portfolio Pulse from Lisa Levin
US stocks traded mixed with the Dow Jones falling over 100 points while the NASDAQ and S&P 500 rose. Existing-home sales in the US fell 2.2% from a month ago. Fulcrum Therapeutics, Fabrinet, and Sidus Space saw their shares rise after positive news. Republic First Bancorp, DICK'S Sporting Goods, and Dragonfly Energy Holdings saw their shares drop due to negative news.
August 22, 2023 | 4:36 pm
News sentiment analysis
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POSITIVE IMPACT
Fabrinet shares rose 28% after the company reported better-than-expected fourth-quarter financial results and issued guidance.
Fabrinet's better-than-expected fourth-quarter financial results and positive guidance led to a rise in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Fulcrum Therapeutics shares rose 49% after the FDA lifted clinical hold on the company’s FTX-6058 for sickle cell disease.
The FDA lifting the clinical hold on Fulcrum Therapeutics' FTX-6058 for sickle cell disease is a positive development for the company, leading to a rise in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Sidus Space shares rose 18% after the company acquired edge artificial intelligence company, Exo-Space.
Sidus Space's acquisition of Exo-Space, an edge artificial intelligence company, is seen as a positive development, leading to a rise in its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Dragonfly Energy Holdings shares dropped 22% after the company reported downbeat second-quarter results and issued weak forecast for the third quarter.
Dragonfly Energy Holdings' downbeat second-quarter results and weak forecast for the third quarter led to a drop in its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
DICK'S Sporting Goods shares dropped 24% after the company reported worse-than-expected second-quarter results and lowered FY23 guidance.
DICK'S Sporting Goods' worse-than-expected second-quarter results and lowered FY23 guidance led to a drop in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Republic First Bancorp shares dropped 42% after the Nasdaq notified the company that it will not be listed on the exchange because it has not filed its Form 10-K Annual Report with the SEC for FY22.
The Nasdaq's notification to Republic First Bancorp about its delisting due to non-filing of its Form 10-K Annual Report with the SEC for FY22 is a negative development, leading to a drop in its stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100